November 23, 2010

Newcastle could put PLRG on the map

A project to help devise a methodology for calculating and demonstrating the tax yield for infrastructure projects from Tax Increment Financing (TIF) could become the first research originating within the Professional Land Reform Group (PLRG).

Dr Seraphim Alvanides of Northumbria University approached PLRG Hon Sec Dr Tony Vickers only last month, after a story appeared on Landvaluescape about Newcastle wanting to be a pilot for Land Value Taxation. Dr Alvanides had been a member of Dr Vickers' "Policy Delphi" during the latter's PhD on Value Mapping. He was interested in following up this work with a practical exercise in Value Mapping a part of Newcastle.

Then last month the Government announced that it was going to allow Councils to use TIF to fund infrastructure projects. Vickers & Alvanides put together a research bid that would help with TIF as well as LVT, because any project relying on land value uplift needs to be able to reassure funders that the revenue will flow back from their investment outlay.

Vickers has now written to the Department for Business Innovation & Skills (BIS), whose White Paper Local Growth included the TIF announcement, to ask BIS to persuade the Valuation Office Agency (VOA) to release property tax data for this research. In the past, researchers have not been given access to VOA data unless it was for a tax-related purpose that was in accord with Government policy, as this project would be.